TORONTO — Nordstrom’s departure from Canada’s retail landscape will leave significant holes in shopping malls, and some analysts say landlords will need to get…
She pointed to pop-ups, food properties and experience-based spaces like the World of Barbie — an interactive, ticketed version of Barbie’s Dreamhouse at the Square One Shopping Centre in Mississauga, Ont., as potential Nordstrom replacements.“The world is our oyster,” she said. “These travel globally, to see everything that’s available, and so it may be something that we haven’t even seen yet in the Canadian market, and that might not be a department store. It may not even be a food hall.
Nordstrom’s six Canadian stores — CF Chinook Centre in Calgary, CF Rideau Centre in Ottawa, CF Pacific Centre in Vancouver and CF Eaton Centre, Yorkdale Shopping Centre and CF Sherway Gardens in Toronto — have between seven and 10 years remaining on their leases. The CF Eaton Centre location alone took over 220,000 square feet over three levels, when it opened in 2018.
In other instances, it will mean the hulking spaces Nordstrom occupies will be broken into smaller stores that can be leased to a wider range of tenants not needing as much space.Article content Asked whether Hudson’s Bay or Saks Fifth Avenue would be interested in Nordstrom properties, chief executive Richard Baker said his companies are “optimistic” about their ability to grow market share.
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